[230+ Pages Report] According to the report published by Facts Factors, the global Packaging Machinery Market size was worth around USD 47 billion in 2021 and is predicted to grow to around USD 82.1 billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.35% between 2022 and 2030. The report analyzes the global Packaging Machinery Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the packaging machine market.
Packaging has become an integral part of the modern world. Every object that exists across all markets and is created for all purposes is required to undergo the process of packaging at some point in the product's lifestyle. It is the science and art of enclosing a product to make sure that the content of the package remains safe from the time of production until the end-consumption.
Even the raw materials used to create a product undergo the process of packaging before they reach the manufacturing or production site and undergo further processing. There are certain factors why the quality of packaging should not be avoided by businesses or corporations. The first point is the safety it provides to the product before it reaches the consumer. The logistics process, either from the manufacturing unit to the selling site or from the retail counter to the final destination, can be tedious.
During the entire transportation process, the product may get exposed to severe and extreme conditions, and hence it is critical that the packaging is of high quality to avoid the product getting damaged or contaminated, especially in the food & beverages and healthcare sector. Good packaging can also act as a great marketing tool as it helps improve brand-recall value. Since the packaging process is highly monotonous while also requiring precision work, packaging machines are the best investments that businesses can make to achieve the desired packaging solution.
The global Packaging Machinery Market is anticipated to grow owing to the increasing investment in research & development (R&D) of new and effective packaging solutions. Until a few years ago, packaging was not considered an important factor however, with time, companies and consumers have realized that the right packaging can make or break the deal resulting in more demand for innovative solutions. This can be witnessed in the failure witnessed by Tropicana when it launched its new packaging in 2009.
The juice brand introduced a new look for its fruit juice but the sales dipped by around 20%. After analysis, the wrong packaging was regarded as the main reason for the loss in revenue. The previous packaging looked premium because of the bright colors whereas the new designs lacked the necessary appeal.
The position of the company logo was shifted and it was difficult to locate. Tropicana had to modify the packaging again. This is quintessential to understanding the importance of the right packaging which is why companies do not hesitate to spend large amounts on first understanding if the packaging is correct before launching the product in the live market. With the changing types of products and their sub-segments, every company wishes to stand out from the rest of the competitors propelling more investments in the global market.
The global market is anticipated to face expansion limitations owing to the initial high cost of setting up production lines with large packaging machines. For instance, a high-quality food packaging machine can cost between USD 11000 to USD 64000 and the final limit may even go higher depending on the requirement. This restricts the entry of new players in the market as small organizations tend to outsource the packaging solution that uses standard machines for all the clients. Bigger corporations have the necessary funds to change packaging if the product fails to deliver the expected outcome but mid-sized firms lack this benefit due to limited resources.
With the growing population, increasing employment rate, rise in disposable income, and availability of products across price ranges for almost all types of consumables including electronics to cosmetics, the number of brands and their segmented products has increased tremendously. For instance, Unilever, a global leader in consumer goods, has more than 400 brands under its name and the company is constantly investing in new business ventures trying to enter new markets. Such efforts and initiatives are expected to open doors for more growth opportunities as the world moves toward further advancements.
In the last 2 to 3 years the world has witnessed various serious concerns that have practically already managed to disrupt the supply chain of products in various parts of the world. The recent takeover of the Taliban over Afghanistan has created a food security crisis in the country. As per a United Nations report, around 12.2 million Afghanistan citizens are facing acute hunger and more are expected to suffer from the same in the coming years. These factors are projected to have a long-lasting impact on the transportation of packaging machines.
The global Packaging Machinery Market is segmented based on type, end-user, and region
Based on type, the global market divisions are form, filling machines, palletizing machines, wrapping machines, fill & seal machines, and cleaning & sterilization machines. The global market witnessed the highest growth in the fill & seal machines owing to high demand in two of the most dominating sectors that are healthcare and F&B. Since the products packaged should be free of contamination until they reach the final consumer, they have to be packaged using precise and customized solutions. Amcor, a product packaging company has a turnover of INR 500 crore.
By end-user, the global market divisions are pharmaceutical, food & beverages, cosmetics, chemicals, and others. The pharmaceutical segment leads the global market with the highest market share as the products in this segment require extremely concise and specific packaging solutions. In 2019, the global pharmaceutical packaging market generated USD 89 billion in revenue.
Report Attribute |
Details |
Market Size in 2021 |
USD 47 Billion |
Projected Market Size in 2030 |
USD 82.1 Billion |
CAGR Growth Rate |
7.35% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2030 |
Key Market Players |
OPTIMA packaging group GmbH, Amcor plc, Westrock Company, DS Smith, Ball Corporation, Sealed Air Corporation, Coesia S.p.A., Tetra Pak International S.A., GEA Group Aktiengesellschaft, and others. |
Key Segment |
By Type, End-User, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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The global Packaging Machinery Market is anticipated to witness the highest growth in Europe due to the presence of the biggest brand names functioning in the consumer goods segments. For instance, Unilever generated revenue of EUR 5244 in 2021. The growing strategic collaborations amongst various players in the European market to expand their foothold across new regions may further generate more revenue.
Growth in North America is anticipated to be driven by growing innovations for the development of new packaging machines. Shurtape Technologies, one of the leading packaging solution providers in the US recently announced the acquisition of Pro tapes and Specialities, Inc. The move is anticipated to help the company expand the quality of its services.
The global Packaging Machinery Market is segmented as follows:
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